2 Independent Karnataka MLAs seek to withdraw Supreme Court plea for 'forthwith' floor test
New Delhi: Two Karnataka Independent MLAs on Wednesday urged the Supreme Court to allow them to withdraw their plea seeking its direction to the state assembly Speaker K R Ramesh Kumar to conduct "forthwith" floor test on a trust motion moved by the H D Kumaraswamy government.
The Congress-JD(S) coalition government on Tuesday lost the trust vote after a three-week-long power struggle.
The counsel for the lawmakers R Shankar and and H Nagesh told a bench of Chief Justice Ranjan Gogoi and Justices Deepak Gupta and Aniruddha Bose that the MLAs wanted to withdraw the petition as the floor test has been conducted in the Karnataka Assembly.
"Where is Mukul Rohatgi (counsel for the lawmakers)? Where is A M Singhvi (counsel for the Speaker)?" the bench said.
It said it will pass the order only in the presence of the senior counsel.
On Tuesday, Speaker Kumar had told the court that voting on the trust motion was likely to be concluded by the evening. During voting that evening, the confidence motion moved by Kumaraswamy was defeated with 99 members voting for the motion and 105 against it a House with an effective strength of 205 members.
Twenty members, including the two Independent MLAs, skipped the proceedings.
The Independent MLAs had moved the apex court, saying the state has plunged into a political crisis after they withdrew their support to the JD(S)-Congress government and 16 lawmakers of the ruling coalition tendered their resignations.
"It is submitted that the trust vote is not being conducted despite the government being in minority. It is submitted that a minority government, which does not have the confidence of the majority, is being allowed to continue in office," they said in their plea to the court.
"The petitioners have been constrained to invoke the extraordinary jurisdiction of this court under Article 32 of the Constitution of India seeking a direction from this court to conduct a floor test forthwith in the Karnataka Assembly," they added.
The legislators had accused the government of taking advantage of the logjam and taking several executive decisions like transferring of police officers, IAS officers, other officials.
Their petition was filed after Kumaraswamy and Karnataka state Congress president Dinesh Gundu Rao had moved the top court, accusing Governor Vajubhai Vala of interfering with assembly proceedings during the debate on trust vote.
Kumaraswamy and Rao had also sought a clarification of the July 17 order of the apex court by which the 15 rebel Congress-JD(S) MLAs were granted relief that they cannot be compelled to participate in the assembly proceedings.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
